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Are Differences in Firm Size Transitory or Permanent?
Geroski, Paul A; Samiei, Hossein; Urga, Giovanni - C.E.P.R. Discussion Papers - 1997
Cross-section or short-panel econometric techniques typically used to examine Gibrat’s Law of Proportionate Effect suggest that some degree of mean reversion exists, but may exaggerate the apparent randomness of corporate growth. We argue that a more natural way to explore the long-run...
Persistent link: https://www.econbiz.de/10005136482
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Do Services Differ From Manufacturing? The Post-Entry Performance of Firms in Dutch Services
Audretsch, David B; Klomp, Luuk; Thurik, A R Roy - C.E.P.R. Discussion Papers - 1997
services as they are for manufacturing. We use a longitudinal database for Dutch firms in the retail and hotel and catering … sectors to identify around 13,000 new-firm start-ups and 47,000 incumbents in the services and track them over subsequent … services. The results suggest that the most fundamental relationships between firm size, age, survival and growth are …
Persistent link: https://www.econbiz.de/10005789128
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Corporate Efficiency in Europe
Hanousek, Jan; Kocenda, Evzen; Shamshur, Anastasiya - C.E.P.R. Discussion Papers - 2015
Using a stochastic frontier model and a comprehensive dataset, we study factors that affect corporate efficiency in Europe. We find that (i) larger firms are less efficient than smaller firms, (ii) greater leverage contributes to corporate efficiency, and (iii) high competition is less...
Persistent link: https://www.econbiz.de/10011213309
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Demand learning and firm dynamics: evidence from exporters
Berman, Nicolas; Rebeyrol, Vincent; Vicard, Vincent - C.E.P.R. Discussion Papers - 2015
This paper provides evidence that learning about demand is an important driver of firms' dynamics. We present a simple model with Bayesian learning in which firms are uncertain about their idiosyncratic demand parameter in each of the markets they serve, and update their beliefs as noisy...
Persistent link: https://www.econbiz.de/10011213311
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Exporter Dynamics, Firm Size and Growth, and Partial Year Effects
Bernard, Andrew B.; Massari, Renzo; Reyes, Jose-Daniel; … - C.E.P.R. Discussion Papers - 2014
Two otherwise identical firms that enter the same market in different months, one in January and one in December, will report dramatically different annual sales for the first calendar year of operations. This partial year effect in annual data leads to downward biased observations of the level...
Persistent link: https://www.econbiz.de/10011084375
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Demand or productivity: What determines firm growth?
Pozzi, Andrea; Schivardi, Fabiano - C.E.P.R. Discussion Papers - 2012
We disentangle the contribution of unobserved heterogeneity in idiosyncratic demand and productivity to firm growth. We use a model of monopolistic competition with Cobb-Douglas production and a dataset of Italian manufacturing firms containing unique information on firm-level prices to reach...
Persistent link: https://www.econbiz.de/10011083518
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Innovating Firms and Aggregate Innovation
Klette, Tor Jakob; Kortum, Samuel S - C.E.P.R. Discussion Papers - 2002
We develop a parsimonious model of innovating firms rich enough to confront firm-level evidence. It captures the dynamic behaviour of individual heterogeneous firms, describes the evolution of an industry with simultaneous entry and exit, and delivers a general equilibrium model of technological...
Persistent link: https://www.econbiz.de/10005788918
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Evaluating the law of one price using micro panel data
Gobillon, Laurent; Guillotreau, Patrice; Wolff, … - C.E.P.R. Discussion Papers - 2013
This paper investigates spatial variations in product prices using an exhaustive micro dataset on fish transactions. The data record all transactions between vessels and wholesalers that occur on local fish markets in France during the year 2007. Spatial disparities in fish prices are sizable,...
Persistent link: https://www.econbiz.de/10011083488
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Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatisation
Kocenda, Evzen - C.E.P.R. Discussion Papers - 2002
This Paper works with a broad data sample of Czech voucher-privatized firms during 1996-99. It analyses the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest owner...
Persistent link: https://www.econbiz.de/10005788907
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Cross-Country Growth Comparison: Theory to Empirics
Quah, Danny - C.E.P.R. Discussion Papers - 1999
This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has guided that empirical analysis. The paper argues that recent studies of economic growth - both empirical and theoretical - distinguish from previous work in three distinct ways:...
Persistent link: https://www.econbiz.de/10005792232